Eastern Stone
A 49.9% interest in granite producer Igneous Stone has been acquired by Eastern Stone Products (ASE). Igneous operates the Belmont granite quarry near Havelock, Ont. (in the province’s southeast). Als…
News
Timmins Nickel in mill deal
A short-term contract with Falconbridge for the delivery of nickel ore to Falconbridge’s mill and smelter in Sudbury, Ont., has been entered into by Timmins Nickel (TSE). Timmins Nickel, which mines n…
Friedland acquires Mt. Grant control
A control position in Mt. Grant Mines (VSE) was recently purchased by Robert Friedland, best known for his management of Galactic Resources during the buoyant 1980s. Friedland purchased more than 2.7 …
Cons. Nevada increases output
Production from a new mine enabled Consolidated Nevada Goldfields (TSE) to turn out a total of 28,132 oz. gold during its fiscal year ended June 30, more than double the previous year’s production of …
Correction (August 24, 1992)
A recent hole drilled on Trader Resources’ (TSE) 50% owned Mikwam property in northwestern Quebec returned 1.6 ft. grading 0.07 oz. gold per ton, rather than 0.7 oz. gold (T.N.M., Aug. 17/92). Trader …
MinVen loan is restructured
A $7 million loan which was to have been paid in full last January has been restructured by Citibank and MinVen Gold (TSE). Under the terms of the agreement, Citibank has released MinVen from various …
TORONTO STOCK EXCHANGE INDICES (August 24, 1992)
Aug 18 Aug 17 Aug 14 Aug 13 Aug 12 High Low Composite”300″3377.82 3379.78 3368.47 3360.45 3377.75 4009.47 3009.91 Metals&Minerals 2990.72 3007.99 2973.02 2952.37 2948.27 3453.06 2502.63 Integrated Min…
FINANCING (August 24, 1992)
Arrowhead Res. Ltd. – 4,000,000 shs offered, with 2,000,000 shs guaranteed and 2,000,000 shs on a Best Efforts basis @ 20 cents per sh. Sundance Res. Ltd. – 2,200,000 shs offered, with 200,000 shs gua…
GOLD FUNDS (August 24, 1992)
BGR Central Net Value $7.97 $4.89 Price $7.13 $4.55 Discount 10.57% 7.0% Value $47,431,000 $76,550,565…
STOCK MARKETS — Market trading listless; gold price in
Despite a momentary recovery in the price of gold, indices on the Vancouver Stock Exchange continued to drift during the period ended Aug. 18. From its July peak of about US$360 per oz., the yellow me…
Promising Gibraltar assays
Additional assay results were released by Gibraltar Mines (TSE) from its recently completed 25-hole drilling program on the Gibraltar mine property near McLeese Lake, B.C. The drilling program covers …
Westmin trims quarterly loss
Although still not out of the red, Westmin Resources (TSE) is continuing to pare losses stemming from its mining operations in British Columbia. The Vancouver-based company posted a net loss of $2.54 …